>> michelle snyder. >> michelle snyder is the one responsible for this deback scd? >> excuse me, congresswoman, michelle snide ser not responsible for the debacle. hold me responsible for the debac debacle. >> thank you, i yield back. >> i recognize the gentleman from the great state of michigan. >> thank you for your courtesy. i ask unanimous consent i be permission to revise and extend my remarks. >> without objection. >> i welcome the secretary to the room in which her distinguished father, former governor of ohio, served for so many years. i begin my questions by quoting from an expert for whom i have enormous respect. he said as follows: as i mentioned earlier, the new benefits and implementation are hardly perfect. rather than trying to scare and confuse seniors, would i hope we can work together as we go through the implementation phase and find out what is wrong with the program and make changes and fix it. let us do it and do it in a bipartisan fashion. it is too big a program and too important to too many people to do that. having said that, it does appear

we'll get to michelle caruso-cabrera over in italy in a bit. is it possible berlusconi will take control of the next government? we'll see but that possibility is what's been pressuring the market. you see the s&p turnaround. the dow only 100 points from an all-time high now negative on the session. nasdaq eking out a gain of almost .2%. there's a look at barnes & noble. their shares are up as a result of barnes & noble's company's board saying it received a notice from the founder, largest shareholder at about 30%. he plans to propose -- again, he hasn't actually made the proposal but he does plan to propose to buy all of the assets of the company's retail business. that would essentially be at stores and barnes&noble.com. >>> moving on to home builders. help rebuilding efforts after super storm sandy. earnings and revenue exceeded expectations. the home retailer's outlook is a bit of a disappointment. the stock kind of doing more of a flat-line at this point. >>> results have been trickling in from italy's elections. i want to get now to what

michel michelle? >> this whole crisis, the worst of which has been averted started when this country turned to the european partners and said would you help us bail out our two big sick banks. the european partners turned and looked at them and said no, we're not going do that. instead they came up with a brutal answer and they'll down size them dramatically. in the case of one of them, they'll be resolved and the bank will be resolved and that led to thousands and thousands of people taking to the streets all through the weekend and even last night as a result in protests that they know will be coming job losses as a result of the solution coming up here. it doesn't include the most controversial thing which was to tax the insured deposit, but the uninsured deposits will be -- and the ongoing relationship with germ no. i spoke with him earlier today. he had a number of criticisms about the bailout and he's highlighted that he's deeply critical of germany. >> i think the other thing about the cyprus b

michelle, what is the take away now for shareholders? >> for shareholders are going to see just how much impact there is in terms of sales and whether or not they're going to see a decline in bookings. i think that's going to be true for the entire industry. the ship is leaving this spot. we know it's going to a dry dock area where a lot of mechanical workers and electricians who have been flown in are going to begin working on the ship. the disembarkation process starting last night about 10:15. some of the video last night, people were thrilled to finally get off the boat. let's show you the diverted route. we've built a lot of graphics so you can see what's happened here. as these people were getting off the ship, they're going to have to go ton buses, ride to new orleans, then to galveston. the ship was supposed to return to galveston, and instead, it got diverted here to alabama. why did disembarkation take so long? there were 4,000 people on this ship. allure of the seas, 5400 can ride on that. royal caribbean has a staff of more t

michelle is live from the capital of cyprus. from outside the country, we read that they're furious they haven't been speaking for so many days. similarly many of the suggestions coming from the greek government, nationalizing the pension system of being rejected by hand. this is going to be a very long weekend if they get a result. >> reporter: it is. what you are saying is correct about lack of communication with the government, and i have to tell you, here it's beginning to feel chaotic. it's hard to know if this is something to be extremely worried about, the disarray around us, or if this is what happens right before they stair into the financial abyss and have to make strong decisions. that's what they're going to do. they're going to wind down at least one bank. that's why we have protesters. the members of parliament don't want to wind down the bank. that means uninsured depositdep will. we had a long conversation with a lot of journalists about what was happening. we started asking what kind of responsibility do you hav

and michelle has details at hq. michelle? >> we're watching the bonds of ukraine rally on the news out of an announcement out of moscow this morning, a $15 billion rescue package in the works. so we've seen the ukrainian 10-year yield drop from 9.9% to 8.8%. the more immediate decline in the bonds, and the yield is now below 10%, up from earlier from 15%. so that's a pretty dramatic intraday move. the announcement earlier comes out of moscow from putin there was a $15 billion rescue package. ukraine's only got $17 billion worth of sovereign bonds coming due in the next two years, so that would be an enormous lifeline to suppress the interest rates. bottom line, we don't know what duration russia plans on buying, but certainly it will be a big help, plus they're going to set cut-rate gas to ukraine, as well. that's going to help the picture, as well. that's the big headline. the secondary headline is, if we are to believe the announcements out of moscow, ukraine, and this drama we have seen with protesters in the main square i

michelle caruso-cabrera with the latest on this developing story. >> instead of the tradition route of severe austerity across the country with much higher taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicy

michelle is outside the u.n. with more. michelle? >> reporter: yeah, i would add to that, carl, he chieded the u.n., and also reprosecuted the case for military intervention, unless we had threatened that, this organization wouldn't have gotten anything done when it comes to syria. that's the first point he made. when it comes to iran, yes, absolutely the headline is having secretary kerry begin high-level negotiations, about trying to verify whether or not iran's nuclear program is peaceful. and he also hinted at what the united states would do in exchange for that, not try to seek regime change in iran. when you speak to experts who have watched iran for a long time, they say that the iranian leadership believes the u.s. isn't just interested in ending the nuclear program, but they're also interested in regime change there. so the u.s., they will expect will stop trying to promote democracy as we know it in that country. and then, also, talking about israel. israel's right to exist. perhaps saying that not as much for all of the me

michel michelle caruso-cabrera is live. >> reporter: the banks here will be open for one more hour. it was quite a crowd when the banks first opened. a lot of people who had no atm card and were desperate for cash. after that it calmed down considerably. it's hard to know what the true demand for money would be because they were closed in order to thwart bank funds. you can't take anymore more than 1,000 euros abroad, for example, if you're going to be traveling. no checks can be cashes. they can only be deposited. if you want to transfor more than 5,000 your owes it's going to be reviewed by the committee. we don't see long lines all day here at the banks. additionally that led to unskern ty. >> i just came here to see the rules and regulations. they said no. whatever i asked, they didn't know. >> reporter: so he raised a question if he could move his money to a subsidiary abroad. there's a lot of on if the russians can transfer accounts or travel to london and take their money out of banks, subsidiaries or branchs in the uk. if a bank manager allowed that it would be illegal. then

joining us from cyprus is our chief international correspondent michelle caruso-cabrera. michelle? >> hi there, scott. >> as a result of rejecting that plan last night in parliament and now it's plan b and it's emergency meeting after emergency meeting to try to fig you out a way for this government to come down in euros in either savings or revenues in order to get a $10 billion euro loan to bail out their banks. they've got to come up with that number or else we'll come up with a meltdown. in the wakes of the vote yesterday told the cypriots. don't think you're negotiating this deal. don't come back to us. it was a toughly-worded statement. russia, by the way, is not buying one of the troubled banks. there had been a report that that was going to happen that briefly spiked the euro. and one of the government spokespersons immediately said it was false and we saw that rally disappear. there's a cabinet meeting two hours from now and at some point they've got to announce, what are they going to do about the banks tomorrow? are they going re-open or not? it seems implausible at this

michelle? >> reporter: they have different areas of innovation center that they use to show customers new products involved with customers here. we're in the dental area where they're always working on new things. one of the things, a product that they now, makes it easier when you go to the dentist and need a crown. in the old days put one in your mouth, the tray, filled it with gel, took a couple of weeks, got the crown back, had to test it. the new product they have or a product that they find successful it's like a magic wand. it's a light stick that they shine at your teeth, just one pass -- >> michelle. unfortunately we're having audio issues. we'll get michelle's audio issues fixed, of course. it's a long way. we had to string that cable from here to mexico city. we have to get audio tweaks fixed. >> from 3m to 3-d, special as access to makerbot new 50,000 square foot facility in brooklyn. the company's looking to hire new staff for its products. he's chosen to keep factories in the u.s.

michelle predicted greece would stay in the euro. that's correct. she also had a primary surplus in 2013. and she said mexico could become the the next hot market. right again. they passed a sweeping reform bill that opened up the oil industry to foreign investors for the first time in 75 years. finally, michelle predicted that africa would disappoint as a global hot spot. turns out thar was wrong. african stock markets ended on highs with nigeria up nearly 35%, zambia outperforming the nasdaq here. what's in store for 2014? here's michelle caruso-cabrera. ♪ >> reporter: the russian olympics in february will have as much political drama as the last time they were held in russia. that was 1980 when the u.s. boycotted the moscow summer games in protest of the soviet union's invasion of afghanistan. now, more than 30 years later, russia is once again resurgent in trying to retain influence and control in eastern europe and the middle east. as we've seen in ukraine and syria. expect russian president vladimir putin to use the olympic games as a way to

michelle, we just got the confidence number of the week. we'll get an important revision to gdp later in the week, as well. >> is the market reflecting a real upturn in the recovery? >> the sentiment figures have been quite encouraging. the conference board number we just got out back to pretty much pre-recession levels and the university of michigan we had seen last week which got us back to summer 2007 levels. this is actually a pretty decisive turn in consumer confidence, and i think it very much relates to what we're seeing in terms of equity markets. the stock market reaching new record highs. i think that does a lot to boost confidence. the home price data we've seen this morning, prices up 10% on the year, consumers are starting to feel a lot better and while this is happening the asset price a proesh yaying, we are seeing jobless claims continue to come down. so it's a pretty good combination that's helping to boost confidence. >> let me just come become on the point you made about the fed and what many people are assuming you have

michelle caruso-cabrera is doing double duty. covering chavez and this rally. >> a lot of risk overseas but things they highlight. first and foremost, the bears an critics of the rally say it's fed driven and the fundamentals, the quality of the fundamentals are low and some point we're going to wake up to that and the market's going to wake up to that or price for perfection at this point. the other big risk that a lot of people talk about is the situation with the arab spring and some calling the arab winter or the fall and the continuing unsettled situation over there and what would happen with some kind of middle east terrorist event to lead to a large disruption of oil supplies and debilitating. we talked about europe and people complacent about maybe a big banking crisis in europe. the ecb papering over the situation and now more and more growing concern of youth unemployment in europe and destabilizing and that could be the cause of some kind of push that maybe pushes some of these countries out of the euro. the chinese tr

michelle is live in cyprus with the very latest on the story. michelle? >> we'll come back to michelle in a moment. >> in the meantime, we're going to take a quick break here. we ask you what yoga pants? find out if the company's problem with sheerness is a temporary hiccup. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> >>> hi. i'm here in cyprus where the financial crisis -- i'm live in cyprus. welcome back to cnbc. take a look over my shoulder. what you see is a line at an atm. right now it's ten deep. it's been running 20 deep all day long at all the branches of this bank. it's one of the weakest in cyprus. it's one of the ones under threat as this country grapples with the financial crisis and secures a bailout from the european partners. this is rapidly becoming a cashless society because

michelle, good morning. >> hey, good morning. the unrest is growing every day as the people of cyprus begin to realize the implications of the bailout, which is a massive hit to the economy. thousands of students took to the streets today. they don't think this is a bailout deal at all. this downsizes one of the country's biggest banks and that will lead to a contraction in the economy. the financial sector is 50% of this economy. only believe we could see 10 to 30% over the next three years. thousands of employees al protesting. they were there because they heard rumors that their bank would be liquidated. so far that is not true. the bank has the power to do that in the future if it wants to. and it's to the point now that the employees leave the central bank there are armed police officers there to make sure that the cars are not attacked. in the meantime, the bankings are still closed. they won't open until thursday at the earliest. there's a combination of factors. there's lodgistical issues. there's questions on what kind o

michelle caruso-cabrera. >>> 2013 has been a year of transition. meanwhile, for microsoft, after troubles of a window law enforcement, news that steve ballmer will retire, but the stock continues to move to the upside. why are buyers still buying it? we'll ask one of them in a moment. ♪ i still haven't found what i'm looking for ♪ to help secure retirements and protect financial futures. to help communities recover and rebuild. for companies going from garage to global. on the ground, in the air, even into space. we repaid every dollar america lent us. and gave america back a profit. we're here to keep our promises. to help you realize a better tomorrow. from the families of aig, happy holidays. the ocean gets warmer. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. anbe a name and not a number?tor scot

>> but michelle, when he -- correct me if i'm wrong here when it comes to the great wealth -- but gates foundation, and slim has yet to tell us what he is going to do with the wealth, isn't that right? >> so, he's got a foundation that has somewhere between $4 and $6 billion in it. he does not tell people very much about what he does with the foundation. we know for example that recently he decided he would have all of the videos from com academy be redone, and he is going to redo parts of latin america, and he is determined to work out polio, and working with bill gates on, that and i have asked him about that, and he said in this interview that i played earlier, he doesn't care if nobody knows anything about what he does with philanthropy, and he does not want you to know, and the reason he does not want you to know is because he has a flphilosophy about giving and he read me an actual poem about it by khalil jabron, sands you should not brag about the philanthropy, but do it for other reasons. >> i thought it was extraordinary i and in fact, you can see the video of slim reading that

our chief international correspondent michelle caruso-cabrera is following the story for us and michelle, this really took people by surprise. >> absolutely. i think it has, kelly. let's show you what happened to the turkish stock market. when it reopened today, it dropped sharp low lower, as you can see. lower by 10%. it looks like now we have a fourth day of protesters occupying the square in turk pep this started out as a protest about too much development, not enough green space. they were concerned about yet another mall. the prime minister of the country saying they were going to rebuild an ottoman, and they thought there wouldn't be a green space within istanbul and another thing they heard from protesters is they felt the government was becoming too authoritarian and leaning away from being secular even though turkey is a mostly muslim country, this is a country that has a separation of what we would call church and state, but they would be mosque and state. so they don't want necessarily the mixing of religion and the state and this prime minister, some of them dom plained impos

michele and michael with their views on that this morning. thanks very much. >> thank you. >>> let's go to the ground in the region. nbc's richard engel joining us from the turkish border with syria. good morning, richard. >> reporter: good morning. the syrians are trying to figure out whether this will happen or now has the momentum truly stopped. we've been speaking with rebels this morning, and they are starting to wonder, is the united states really going to act? are they going to act alone or once again is the world going to look away and allow more people to die in syria because they are too afraid of getting mired in what is absolutely a very murky and complicated conflict? >> richard, there have been various reports out today from sources that, i don't know if we can trust or not, but there have been reports that assad is moving some of his prisoners into areas where there would likely be a strike. any way to confirm that at all? >> reporter: i haven't confirmed that. we've spoken to people in ka mass cuss who actually described the s

michelle is back. what's going on down there? >> reporter: there's a lot going on down there this week. the parliament debates changes to its constitution to allow foreign investment in the oil industry. despite the protests that you saw, big changes are likely to occur providing big opportunities for major multinationals. 55 miles off the coast one of the few deep water drills controlled by the mexican government's oil and gas company. it is an exploration drill. what they really need is production drills, lots of them, to get to as many as 50 billion barrels of possible energy reserves they estimate to be in the deep waters of the gulf of mexico. carlos morales says quite simply they don't have the money. >> the investment required for the resources is huge. >> reporter: the required investment is $60 billion a year, to be exact. pemex spending $25 billion a year. it's a critical situation because mexico needs new sources of oil. production is down sharply in the last ten years from 3.5 million barrels a day to only 2.5 million

let's bring in bert white, chief investment officer, and michelle picard, and happy fourth to you in advance. michelle, there is so much going on around the world, i wonder, does this adp number give us hope that jobs will take the lion's share of the attention in a good way friday? >> well, you are right, i think that is going to be the focus. let's face it most of us are coming in to deal with that report, and then after an hour or so, hopefully, you know, things will quiet down. and then i think that the bigger issue, so many of the issues will be dealt with as things are going to unfold early in the week and the weekend. >> and it is the second month that the number has grown and tend to undershoot the les, right? >> well, it is not a consistent trend. it has not been terribly reliable as we look at the pattern. when i look at the adp, and as you said the best of the year, but the numbers have not changed that much, and that is the same message from the claim state as well. stepping back, we don't see much of a change in recent months and underlying labor market conditions that.

michelle dennedy. >>> is the receptionist a thing of the past? thanks to the cloud, the front desk could be more streamlined than ever. bringing the cloud to small businesses all over the country, in a moment. >>> cloud technology a hot buzzword this year. how is it put to use on main street? josh mccarter, a start-up that offers cloud solutions for small and medium sized companies joining us new york with jon fortt. good morning. >> good morning. >> we had a discussion with someone from mcafee about the privacy risks regarding the cloud. how do you walk mom and pop through the land mine? >> it certainly is a process. i think s&bs are becoming accustomed to cloud-based computing, that's where customers are, they want to interface through businesses and businesses want to run off of tablets and they'll get that through cloud-based systems. >> providing a back end for dentist, doctor offices to interact with customers, potentially huge. intuit spent $423 million on demand force. how do you compete? demand force, well-funded, well-backed. you spun o

i'm michelle caruso cabrera. a report just came out that shows how costly it is that we don't keep up our roads and waterways. more than $3 trillion off the nation's gdp through 2020. they believe we should be spending $2.7 trillion through the end cht decade. they expect we'll only spend $1.6 trillion. that's a gap of $1.1 trillion in lost sales, 3 1/2 million lost jobs and 3.1 trillion in lost gdp. when the electrical grid fail and you can't run the manufacturing plant, you can't make what you need to sell. when you can't get out of a port, you can't send it you have a we get it it but we need to do something about it. back to you. >> the question is, how do we pay for it. >> exactly. >> thanks, michelle. we are counting down to facebook's big announcement. what is mark zuckerberg building? we'll take some getses after the break. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you

so bond yields 3.25, 3.30. >> michelle, this u-6 number is an improvement. what do you make of that and what do you make of the confidence number. we just got? >> i have to be honest. the household survey data are awful suspicious at the moment just given the volatility associated with the government shutdown. i do think the message is similar to what we've seen. you're getting continual declines in the unemployment rate. anyway, you're absolutely right. we've recouped all the losses because of the government shutdown. that's great news in the middle of the holiday shopping season. >> andrew, you're not a stocks guy, you're an economist. let me ask you, jim imof can. probably wouldn'tinfchbl u.s. consumer and small cap consumers have been very well. >> do you find thome eat the moment? >> specific areas would be technical calling. >> would you be bringing some of can can can we're here talking about the fed is going to do it. ecb is probably uneased longer than the fed at this point. >> guys, we'll leave it there. thapg you very much. hp f. -- let bring in s

snyder is the -- >> michelle snyder is the one responsible for this debacle? >> well, excuse me, congresswoman, michelle snyder is not responsible for the debacle. hold me accountable for the debacle. i'm responsible. >> okay. >> our next guest is a former secretary of health and human services himself. joining us is tommy thompson, also a former governor of wisconsin, in madison, as i understand this morning. governor, good morning. >> good morning, kelly, and how are you? >> i am very good, sir, thank you for joining us. we know you're no fan of obama care, but certainly you can empathize with the position that sebelius finds herself in. what do you think she should do now? >> what she needs to do is she needs to go back and get all of the technical people together, and she's got to start testing and retesting the whole system. when i was secretary, i was tasked with setting up part d of medicare. and then, it was implemented by mark mckellan and secretary lubbock, and we did the same thing as setting up a whole new system. but we tested every week. every we

michelle caruso-cabrera on the breaking news from italy. >>> and coming up next, it's the company "the new york times" described as an orgy of visual pleasure. more on good eggs when we come back. you get your hair cut here. you find that certain thing you were looking for here, but actually you get so much more. when you shop at these small local businesses, you support all the things that make your community great. the money you spend here, stays here. in this place you call your neighborhood. this saturday is small business saturday. get out and shop small. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ engine revs ] ♪

we want to go to rome now where we find our own michelle caruso-cabrera. good morning. >> reporter: because they owe the world so much money, carl. italy's the third most indebted country in the world after the u.s. and japan. 1.9 trillion euros to banks, to investors everywhere. and this election could be so inconclusive that the reforms here could stall. that worries investors that maybe they're not going to generate enough tax revenue over the coming years in order to pay back those debts. let's show you why this is so inconclusive. there are four candidates here in italy. two of them have criminal convictions. we put them on the screen in a particular order. luigi bersani is in first place. if you're a union member in italy, he is your guy. second place, the incomparable silvio berlusconi making an incredible comeback, even though he's faced convictions, sex scandals, et cetera. but he's still an incredibly deft politician and much loved by a certain part of the italian population. in third place, beppe grillo. and mario monti, the current premier, he

michelle, great story. thank you so much. michelle ka ruichelle caruso-ca. >>> it's hard to forget the carnival "triumph" stranded. we'll look at what the future holds for the company and the rest of the sector in just a moment. the dow's up 52. [ man #1 ] we're now in the approach phase. everything looking good. ♪ velocity 1,200 feet per second. [ man #2 ] your looking great to us, eagle. ♪ 2,000 feet. still looking very good. 1,400 feet. ♪ [ male announcer ] funny thing happens when you shoot for the moon. ahh, that's affirmative. [ male announcer ] you get there. you're a go for landing, over. [ male announcer ] the all new cadillac cts, the 2014 motor trend car of the year. bny mellon combines investment management & investment giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >>> travel and leisure took center stage in 2013, and wh

so that's why. >> you know, michelle, the big story may be whether or not "downtown abbey's" finances are being mismanaged. >> if they reduce the number of seasons because of that, that would be terrible. >> i knew that would get you. thank you, michelle. >>> let's get a check on energy and commodities. >> hey, from europe to asia, we're looking at japan as a key driver in the commodities markets today. of course the bank of japan stimulus plans, something that's helping many commodities including gold and the fact we may see inflation down the road for gold. and we're finding them above the 16 90 level. it looks like it could be a doubtful case for gold to continue its gold run. that something that citi is looking at its inability to sustain above the $1,800 level. that may weigh on the bullish case for gold. that's according to citi. but they are more bullish about platinum. and the platinum group metals. in fact, they have changed the price target for platinum to $1,700 an ounce. and palladium to $775 an ounce. raising the price targets there. talking about the strength there. we h

guys, back to you. >> still a debate raging on, michelle, those talks falling apart is net bullish or bearish for crude, right? >> remember, charm, probably still very much a long-term question a. lot of oil analysts we spoke to were not planning future iranian crude into their models or expectation. they want to see deal a, and b, there will be inspections. a lot of stuff that happens before the sanctions ease enough so they can start selling oil on the open market. >> it's an important story watch, michelle. thank you so much. back at hq. >>> we want to get you a check on twitter, of course, after that high flying opo last thursday saw stock give back on friday, down about 7%. and today about two and three-quarters percent. it did cross briefly below the $40 mark. in the words of cramer in the past hour, doing exactly what it should do in a rational market because he does feel it needs to come back after that high on thursday. >> it's that high that we're talking of a bear market. not necessarily where it opposite, some of the highs we saw. is that right softly after. >> with that,

. >> thank you, michelle. traffic can be a nightmare in the holiday weekend as you might know, but this year may not be as bad as prior years. phil lebeau is here to explain and phil, you have not been caught in traffic, i am guessing. >> well, that is right, kelly. this is a bigger story in terms of the fuel consumption in the united states. and kelly, take a guess of what percentage of households in the u.s. percentage do not have a car? >> do not have a car. do not have a car. 20%. is that too high? >> well, you are more optimistic. >> it is actually, and i'm going to show you the chart here. it is up to 9% which is a record high, but here is what is happening in terms of the fuel consumption in the united states. we are losing the gas guzzling ways for a lot of different reasons, but the implications go well beyond the auto industry, and the number of no-car homes is increasing and the car sharing services are growing and more people in the cities saying i am not going to buy a car and share whether it is

. >> and steve and michelle, also. >> it was fun. >> playing the "brady bunch" here and you guys have a lot of fun on the golf course. okay. very nice. guys, we will see you on monday and have a great weekend, everybody. >> "squawk on the street" is next. >> "squawk on the street" begins right now. ♪ and we began to rock steady ♪ steady rocking all night long ♪ >>> good friday morning and welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber at the new york stock exchange and what a reversal overnight. and the nikkei is going to fry to catch up off of the intraday high and we will see how much damage they were able to repair. on europe, we will keep an eye on the green scenario for the continent, but the close over there is a few hours away. overnight, nikkei in japan recouping some losses, but remains in bear territory. we will keep an eye on that. the final road map begins with the day of trading in an incredible volatile week, and what kind of market could we see? we will get you ready for the trading day. >> what type of calls will impact th

michelle caruso-cabrera, with the gory details this morning, thank you. >>> coming up -- we told you that mcdonald's is announcing plans to end its 40-why relationship with ketchup maker heisey. ceo bernardo hees former ceo of burger king. brings us to the morning's squawk on the tweet. mcdonald's fighting hyeinz is like blank sparring with blank? (vo) our new planes don't fly any faster. but it sure feels that way. because with power ports... and wi-fi... and in-seat entertainment, for everyone on board, now when you fly, time flies too. (flight attendant) sir, we're about to land. (vo) we're adding a brand new plane, with all this, every week. it's just one way we're building the new american. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. my customers can shop around. but it does

thank you, michelle. >> and there is a panic among some traders as well. >> all right. michelle caruso-cabrera back at h.q. >>> and what about a computer ma maker being bought by stratsys. that is coming to us from brooklyn. and the markets, it is not a great day, but we are off of the lows on the dow and the s, and p. p. tdd# 1-800-345-2550 [ trader ] when i'm trading, i'm totally focused. tdd# 1-800-345-2550 and the streetsmart edge trading platform from charles schwab tdd# 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd# 1-800-345-2550 i can even access it from the cloud tdd# 1-800-345-2550 and trade on any computer. tdd# 1-800-345-2550 and with schwab mobile, i can focus tdd# 1-800-345-2550 on trading anyplace, anytime... tdd# 1-800-345-2550 until i choose to focus on something else. tdd# 1-800-345-2550 [ male announcer ] all this with no trade minimums. tdd# 1-800-345-2550 and only $8.95 a trade. tdd# 1-800-345-2550 open an account with a $50,000 deposit tdd# 1-800-345-2550 and get 6 months commission-free trades. tdd# 1-800-345-2550

and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. i want you to know stuff i want you to be kind. i want you to be smart. super smart. i want one thing in a doctor. i want you to be handsome. i want you to be awesome. i don't want you to look at the chart before you say hi...david. i want you to return my emails. i want you to keep me doing this for another sixty years. at kaiser permanente, we want you to choose the doctor that's right for you. find your perfect match at kp.org and thrive. >>> welcome back to "squawk on the street." i'm kate kelly. standing outside the federal courthouse where we are expected t

and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. [ horn honks ] [ passenger ] airport, please. what airline? united. [ indian accent ] which airline, sir? [ passenger ] united. whoa taxi! [ british accent ] what airline, then? [ passenger ] united. all right. [ spanish ] what airline? [ passenger ] united. ♪ [ mandarin ] which airline? [ passenger ] united. [ arabic ] which airline? [ passenger ] united. [ italian ] where are we going? [ passenger ] united. [ male announcer ] more destinations than any other airline. [ thai ] which airline do you fly? [ passenger ] united. [ male announcer ] that's great, big

some of the lessons learned. >> yeah. >> hard won, but they were learned. >> michelle caruso-cabrera. bad management, lousy marketing, major debt have pushed one green company to the verge of bankruptcy. not too late though to turn it around. "the profit" marcus lemonis, will tell us how. >>> but first rick santelli talking earnings in the economy. >> we'll talk about earnings but more in the context of a car metaphor. i think good car metaphors are the answer to everything that might be a little complicated to. to hear the metaphor and hear what kyle has to say, you will have to tune in in about ten minutes. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >>> an all-new episode of "the profit" airs tonight with marcus lemonis trying to cl

secret service is confirming to me it's investigating an apparent hacking attack against first lady michelle obama. it is investigating but they will not confirm any further details on this, including whether or not the information that is posted now apparently on a russian website is actually michelle obama's accurate information. but i looked at the site, and i can tell you what is up there reports to be bank statements, credit card statements, more began information, student loan record for the first lady, all of which contains identifying personal information, including a social security number, previous phone numbers, and other information for the first lady. also involved in the hacking attack were a range of government officials including joe biden, attorney general eric holder. fbi director robert mueller and secretary of state hillary clinton. with those officials as well, we cannot confirm whether or not this information is accurate. but the secret service says it is investigating. the fbi also tells me they are aware of the website in question. >> i'll take it. thank you very much

but i can't help, frank and i, we were listening to michelle caruso cabrera's wonderful piece. some 60%. i looked at frank and said they should have at least traded commoditys. if you lose 60% you have a lot more fun that way. don't you, frank? >> indeed. >> when i look at the crbi commodities, copper, things like that. it's not down much for the year. it's just under 293. so it doesn't look so bad. you had a bit of a different take. >> part of this ongoing is i think the energy prices which have been staved off here and had been advancing are masking some of the kind that we've seen in all of these other markets. when you take a look at cattle, we're at 132, down at 124s right now. that's a 120 load. >> is 132 is the end of last year, end of last quarter. >> this year, too. hog prices, up above a dollar. down 90 cents. over there we know what's happening right now with the agriculture prices, the corn and beans and wheat. >> we had a report friday of last week basically said the most planting since 1936 and stockpiles of current commodities we have at least in terms of beans w

government shutdown is ont a threat if it's protracted. >> thanks, michelle. european central bank leaves interest rates up changed.>> th. european central bank leaves interest rates up changed. let's get to rick santelli in dh chicago with a special guest. >> let's start there. first of all, i'd like to welcome a very special guest. a former ecb president for eight years. he's now two years out of office. of course i'm talking about jean claude trichet. welcome, sir. >> thank you very much for your but one thing that caught me eye especially when i read through the statement several times and that was he would like to see general reforms that may help employment sped up a bit. your thoughts on that and some of the issues of one of the larger economies, france. and some of the potential laws they are making that would be going the other way on reform for example, what penalties there would be if the development deems them economically vile. would you like to weigh in on those issues, sir? >> i would say that it is extremely important for the entire and particu

send it to michelle caruso-cabrera for a market blast. >> nyg getting hit, jpmorgan went underweight from newt travel. worried about the key cash flow drive others of that company's business, a lot more competitionship. a company that tries to commercialalize genetic test, lower by 4.5%. mygn. back to you. everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >>> yesterday, shares of am rallying, other tech names as wellsome tech the sector to be in for 2013 and will apple still be king? lead analyst for p

>>> welcome back to cnbc, i'm michelle caruso-cabrera. a pr team has released a statement saying, dear friends, on november 12th, i asked the president of russia to pardon me due to my family situation, and i am glad his decision was positive. the issue of admission of guilt was not released. as soon as we get that statement up, we'll keep showing it to you. remember, he has been in prison in russia for the last ten years, a former billionaire, ran one of the largest companies in russia. yukos, an oil company. when he ran into trouble with vladimir putin, he was arrested and charged with a number of crimes, but many people believe he was punished by putin for trying to challenge him. once again, he put out a statement. i'm glad his decision was positive. the issue of admission of guilt was not raised. i'd like to thank everyone who's been following the case all of these years for the support you provided me and my family and all those unjustly convicted and continue to be persecuted. he thanked his lawyer and family and friends and said h

everyone is doing it. >> see you later. >> michelle caruso-cabrera. let's get to mary thompson with some news this time on whirlpool. >> stock moving higher, up 2.5% on the news that the u.s. trade ban panel gave final improve to impose anti-dumping duties on washington machines from south korea and mexico. the u.s. international trade commission voting 6-0 in a case brought by whirlpool that said the company had been materially harmed or was threatened with material harm by those other manufacturers. so, again, you can see its stock popping on the news. >> one of the best performing stocks of the year, last year, too. let's bring in brian shactman. we've had a bring of positive days, nine out of ten, in fact. >> dow is up. a lot of that is ibm and microsoft. interesting you say that, carl, i'm really focused on the s&p. those are specific stock stories driving it. tech is driving whatever rally we have today. talk about ibm driving the dow, good for about 70 points-plus and google powers the nasdaq. microsoft up a percent plus apple. pulled back a li

. >> we want to bring in michelle to talk about the european close. >> german factory orders are what you're referring to. it's really led to a broad rally across the continent there. y can see it was all in the green and even though we're talking about programs in the unemployment rate around 20%, some countries over there are hitting historic highs. germany is at a historic high. portugal is at a one-year high. so we're seeing a lot of similarities to what you're seeing in the united states. what is also crucial in germany is germany may finally drop off position to a banking union across the continent. that has driven bank shares higher. that is lifting the overall averages. germany has been doing that, but they want other can'ts to shut down the junky banks that will go away. at this point they're going to drop off position. additionally what's happening in europe, we're getting back and forth about austerity. so the finance minister of germany speaking today. saying, gosh, we do not want a more german europe. we think that's a terrible idea. we fight that every day. a lot of peop

and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> there's a look at the dow 30 heat map. we were off 70-plus point but the ism with a big beat. new order

michelle, thanks very much for that. >>> turning to yahoo!'s first shareholder meeting under marissa mayer which is kicking off. that stock rallying since she took the job. john foon fortt is live with mo. >> it should be starting just about now. not a lot on the agenda that's controversial. a vote on directors, executive compensation, approving the accounting firm. and then a couple shareholder proposals having to do with social responsibility and disclosure of political contributions. yahoo! is recommending no votes on both. as you mentioned, this is her first shareholder meeting. she joined just a few days after last year's meeting. and yahoo!'s business itself is in a bit of a tough spot. the stock has been up. display revenue, the core of their business, down 11% year-over-year to $402 million. search revenue is up 6%. it actually eclipsed display revenue which is unusual. total revenue just about flat. yahoo!'s in the position where it's been charging more for fewer ads, so one of the things that meier has talking about is using video an

michelle caruso-cabrera is in rome with the analysis now. >> unlike the u.s. market, simon, the european markets have not recovered at all from the complete political paralysis and stalemate we have in italy as a result of last night's election. look at the mid, as we call it, the millan index. here's the one-day chart. it got hammered right at the open as it became clear that right now the country is ungovernable at this point. if we show you the one-week chart of the mid, stock market actually rallied when the first numbers came out yesterday. that turned out to be wrong. in two days, almost a 9% move to the italian stock market. the market that most global investors care about is the interest rates for italy. what are they paying. they're having to pay a lot more. their interest rates, if you look at the ten-year yield has risen today. it also rose yesterday. we care about this, because italy owes the world more than $3 trillion. third largest debt in the world. we got an example of how important that is today, because they have to borrow money. they have t

♪ if you don't have somei'm bethand i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights, solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. >>> coming up on "the half," the rally's next leg. where do stocks go from here? >>> board room brawl, the latest on the jcpenney drama. >>> and priceline's next price

i'm bethand i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. >>> welcome back to "squawk on the street." check out red robin gourmet burger. the casual dining restaurant's third quarter profits rose 30%, easily topping street estimates as more customers came through the door and spent more money. sales also rose 8%. the company's also benefitting from a revamped menu, guys. back to the nyse. >> all right. thank you very much, dom. >>> we keep an eye on the markets here. again, down about triple digits during the 9:00 a.m., and clawed our way back to minus 40. keeping a close eye on tesla, which broke above its 50-day movin